01—Abstract
Summary
Summary of the 8-K filed April 27, 2026. Cited figures are marked; the original filing is the authoritative source.
Nucor Corporation (NYSE: NUE) furnished an 8-K on April 27, 2026 reporting results for the first quarter of 2026 (quarter ended April 4, 2026).
Net earnings attributable to Nucor stockholders were $743 milliona, or $3.23 per diluted share, on net sales of $9.50 billion, compared with $378 million, or $1.64 per diluted share, in the fourth quarter of 2025 and $156 million, or $0.67 per diluted share, in the first quarter of 2025. Net earnings before noncontrolling interests were $870 million and EBITDA was $1.51 billion. Earnings before income taxes and noncontrolling interests rose to $1,128 million in steel mills, $285 million in steel products and $45 million in raw materials.
Management attributed the sequential increase to higher average selling prices and volumes in steel mills, and it guided to higher consolidated earnings in the second quarter of 2026 with improvement across all three segments. The company ended the quarter with $2.48 billionb in cash, cash equivalents and short-term investments, and its $2.25 billion revolving credit facility remained undrawn and runs to March 2030. Nucor repurchased about 0.7 million shares at an average of $175.19 and has about $3.97 billion remaining under a new $4.00 billion repurchase authorization approved February 20, 2026.
The Board declared a $0.56c per share dividend payable May 11, 2026, described as the 212th consecutive quarterly cash dividend. The investor presentation furnished as Exhibit 99.2 notes that the West Virginia sheet mill project is on time and on budget, with commissioning through 2026 and production expected in 2027. It also reports a record quarterly steel mill shipment total of 7.0 million tons and a 2026 backlog outlook for steel products that extends through the summer.
02—Key points
Key Highlights
- Net earnings attributable to Nucor stockholders of $743 million, or $3.23 per diluted share, versus $378 million ($1.64) in Q4 2025 and $156 million ($0.67) in Q1 2025.
- Net sales of $9.50 billion; EBITDA of $1.51 billion, versus $918 million in Q4 2025 and $696 million in Q1 2025.
- Steel mills earnings before income taxes and noncontrolling interests of $1,128 million, up from $516 million in Q4 2025, driven by higher average selling prices and volumes.
- Steel mills shipped 7.0 million tons in the quarter, a record per the presentation, and the company says all three segments grew earnings sequentially.
- Management guides to higher consolidated earnings in Q2 2026, with higher realized pricing in steel mills and raw materials and higher volumes in steel products.
- Liquidity of $2.48 billion in cash and short-term investments, with an undrawn $2.25 billion revolver maturing March 2030; credit ratings A-/A-/A3 with stable outlooks.
- Capital returns: about 0.7 million shares repurchased at $175.19 on average; $3.97 billion remaining under a new $4.00 billion authorization; $0.56 quarterly dividend.
03—Questions
Frequently Asked Questions
How did Nucor's first-quarter 2026 earnings compare with the prior quarter and the year-ago quarter?
Net earnings attributable to Nucor stockholders were $743 million, or $3.23 per diluted share, compared with $378 million, or $1.64 per diluted share, in Q4 2025 and $156 million, or $0.67 per diluted share, in Q1 2025. Q4 2025 adjusted net earnings were $400 million ($1.73 per diluted share) and Q1 2025 adjusted net earnings were $179 million ($0.77 per diluted share).
What drove the increase in earnings?
The filing attributes the increase primarily to the steel mills segment, which had higher average selling prices and volumes across all product groups. Steel products improved on higher volumes with stable pricing, and raw materials benefited from higher selling prices and volumes.
What is Nucor's outlook for the second quarter of 2026?
Nucor expects higher consolidated earnings in Q2 2026 with improved earnings in all three segments. Steel mills is expected to see higher realized selling prices with stable volumes, steel products higher volumes on stable pricing, and raw materials higher realized pricing.
How is Nucor returning capital to shareholders?
In Q1 2026 Nucor repurchased about 0.7 million shares at an average price of $175.19. On February 20, 2026, the Board approved a new repurchase authorization of up to $4.00 billion, with about $3.97 billion remaining as of April 4, 2026. The Board also declared a $0.56 per share dividend payable May 11, 2026, its 212th consecutive quarterly dividend.
What is the status of Nucor's West Virginia sheet mill project?
According to the investor presentation, the West Virginia project is progressing on time and on budget. Commissioning will run through 2026, with production expected to begin in 2027 and to ramp to full run-rate through 2027 and 2028.
04—Continue